Have you heard of eRenterPlan? It is a renter insurance policy sometimes offered to buy your property manager when you sign a new lease. Also, it is a costly renter insurance policy in use in over 7,500 properties and 1.8million units in the US. ERenter’s policies can only be used in houses that property managers have subscribed to the service.
Do your property manager work with eRenterPlan and you want to quickly fulfill your renter’s insurance coverage requirement? If yes, this policy will suit you. It has a lot of limitations, so if you want to adjust coverage limits or add features to your renter’s insurance policy, this option is not for you. If you need good customer service or want low rates to offer, go elsewhere. Customers find it very hard to customize their coverage.
Customers who purchase the plan select their personal property coverage and deductibles. They only have just a few choices to add-on coverage options. Their customer service too is nothing to write home at all.
It is however important to know
that eRenterPlan does not underwrite the policy by herself, she has 3 partner companies which are:
American National Insurance Co.
American Modern Insurance Group.
Before you will qualify for this policy, your building MUST have coverage with LeasingDesk. If you enter your zip code on their website and you don’t see your building, don’t apply for it. But you can get a quote from their partner – CoverMyStuff. Their policies are quite different.
eRenterPlan renters Insurance policy coverage
The best feature of eRenterPlan Insurance is that property is valued at replacement cost. This means that if your property is stolen or damaged, you will get the exact item or an item of similar quality even if you have used it for some time.
Also, there is good coverage for the Additional Living Expenses (ALE) incurred beyond your normal living expenses if your residence is uninhabitable. They cover this 100% until your property is habitable.
This insurance firm gives standard coverage features with limited options for adjustment. For example, the highest coverage for property DAMAGE IS $50,000. If your personal property is more than this amount, find another insurance policy.
eRenterPlan covers you and your family from the cost of lawsuits for bodily injury and property damage. Her personal liability coverage is limited to a flat $100,000. You cannot get a higher coverage level from insurers. For instance, if opt for property coverage for $10,000 from another insurance firm, you can adjust the coverage from $5,000 to $20,000. Even their emergency medical coverage is not flexible at all. The limit for emergency medical payments is $1,000.
Also, even if they have adjustable limits for theft or damage of jewelry, the limit does not get to other expensive possessions. To ensure your gold, silver, or diamonds, get another insurer with standard limits.
Additional Coverage Features
Increased Limit of Jewelry: from the standard eRenterPlan Policy, theft of jewelry is covered up to $1,000. Customers can increase the limit to $2,500 and pay an additional $24 per year. They can as well increase it to $5,000 and pay $60 per year.
Water Sewer Backup: this covers the damages caused by a backup of the city water system through the sink, water drain, and others for an additional $12.
Pet Damage: This covers up to $500 in damage that your pet causes to your apartments such as carpets, walls, and others for an additional $18 per year.
This firm has poor customer service. A lot of their customers complain that they cannot access their customer care agents. Many find it very hard to cancel their plans. To cancel your plan, call 1 (888) 512-4204.